Renta Corporación to buy 2 hotels in Barcelona for €30M

Renta Corporación to buy 2 hotels in Barcelona for €30M

Renta Corporación negotiates the purchase of two establishments: BCN Urbaness Gran Ducat and BCN Urbaness Gran Ronda. Luis Hernández de Cabanyes real estate agency has signed a purchase option on both establishments owned by a family group.

The operation is valued at thirty million euros, which places the sale price of each room at 225,000 euros. Now, Renta Corporación negotiates with hotel groups, family offices and investment funds the transfer of the two hotels. The Catalan real estate company has a long-term purchase option and trusts that the improvement in the tourist situation will allow it to find a definitive buyer for both establishments in the coming months.

The BCN Urbaness Gran Ducat and the BCN Urbaness Gran Ronda are two very central hotels and, in both cases, they have 65 rooms of a three-star category.

The BCN Urbaness Gran Ducat would need some reform to maintain its competitiveness, while the BCN Urbaness Gran Ronda is precisely being rehabilitated at the moment.

Renta Corporación, for its part, seeks to repeat the successful operation that closed months ago with the sale of the Nobu Hotel Barcelona. The real estate group signed a purchase option with Selenta to, a few weeks later, execute it to transfer the establishment to the real estate fund ASG, of the American manager ASG, for 80 million euros.

Other emblematic establishments in the Catalan capital that have hung the for sale sign are Mandarin Oriental, Fairmont Rey Juan Carlos I or the Tryp Apollo. Industry experts foresee a steady drop in sales in the coming months given the slow recovery expected in tourism.

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